Rodeo refi: Properties on iconic Beverly Hills street land $160M loan

Owner of 338 N. Rodeo Drive also owns Cuisine de France pastry-maker

Los Angeles /
Jan.January 15, 2019 04:17 PM
Rodeo Drive storefronts

After notching some of the biggest retail sales of 2018, Rodeo Drive has started off strongly in 2019.

Two storefronts along the coveted Beverly Hills corridor, amounting to 28,114 square feet, were refinanced this month for $160 million — or $5,691 per square foot.

The deal for 338-346 N. Rodeo Drive includes a 10-year, fixed-rate loan from a group managed by an affiliate of Apollo Global Management, according to HFF, the brokerage that arranged and announced the deal.

The owner of 338 N. Rodeo Drive is ECA Capital Limited, run by Ronan McNamee, who owns Cuisine de France, the Irish fine-foods purveyor, according to public records in the U.S. and Ireland.

ECA Capital Limited purchased the property in 2007 for $81.5 million.

The storefronts are home to Tom Ford, Bally, and Balenciaga, which is currently building out its space.

Rodeo Drive has seen rising rents and asking prices, and is a leader in the national retail market.

The shopping corridor was home to the top retail investment sales of 2018 for Los Angeles County. LVMH’s $245M purchase of a double lot at 468 N. Rodeo Drive was the biggest sale by far, at $11,001-per-square foot.


Related Articles

arrow_forward_ios
Rexford buys into gap left by Mitsuwa’s move to South Bay mall
Rexford buys into gap left by Mitsuwa’s move to South Bay mall
Rexford buys into gap left by Mitsuwa’s move to South Bay mall
Post delivers $153.2M on high-profile sale in Beverly Hills
Post delivers $153.2M on high-profile sale in Beverly Hills
Post delivers $153.2M on high-profile sale in Beverly Hills
(Sofitel)
Alon Abady revealed as buyer in $96M deal for Sofitel
Alon Abady revealed as buyer in $96M deal for Sofitel
Sofitel Beverly Hills at 8555 Beverly Blvd (Sofitel Los Angeles)
Sofitel in Beverly Hills changes hands
Sofitel in Beverly Hills changes hands
Producer Joe Roth and the five bedroom house (Getty, Hilton & Hyland)
Film producer Joe Roth pays $23M for Beverly Hills Flats architectural
Film producer Joe Roth pays $23M for Beverly Hills Flats architectural
Rams’ Kroenke pays $23.8M for penthouse at Maybourne Beverly Hills
Rams’ Kroenke pays $23.8M for penthouse at Maybourne Beverly Hills
Rams’ Kroenke pays $23.8M for penthouse at Maybourne Beverly Hills
NorCal Investor pays $81.5M for Beverly Hills medical office
NorCal Investor pays $81.5M for Beverly Hills medical office
NorCal Investor pays $81.5M for Beverly Hills medical office
Distressed debt firm buys $25M loan on Garden House condo in Beverly Hills
Serenity now? Distressed debt firm buys loan on troubled luxury condo complex
Serenity now? Distressed debt firm buys loan on troubled luxury condo complex
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...